TD Cowen Cuts KBR (NYSE:KBR) Price Target to $64.00

KBR (NYSE:KBR) had its price objective decreased by TD Cowen from $72.00 to $64.00 in a research report report published on Wednesday,Benzinga reports. TD Cowen currently has a hold rating on the construction company’s stock.

A number of other research analysts have also recently issued reports on the company. UBS Group raised their price objective on KBR from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. StockNews.com downgraded KBR from a “strong-buy” rating to a “buy” rating in a research report on Sunday, October 6th. Citigroup raised their target price on shares of KBR from $76.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. KeyCorp increased their price target on shares of KBR from $75.00 to $78.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, DA Davidson restated a “buy” rating and issued a $84.00 price objective on shares of KBR in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, KBR presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.86.

KBR Stock Performance

KBR stock opened at $58.36 on Wednesday. KBR has a fifty-two week low of $51.60 and a fifty-two week high of $72.60. The firm’s fifty day moving average price is $60.79 and its 200-day moving average price is $64.07. The stock has a market cap of $7.78 billion, a P/E ratio of 24.52, a price-to-earnings-growth ratio of 1.16 and a beta of 0.85. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.07 and a current ratio of 1.07.

KBR (NYSE:KBR) last issued its quarterly earnings results on Wednesday, October 23rd. The construction company reported $0.84 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.84. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.95 billion. KBR had a return on equity of 28.87% and a net margin of 4.35%. The company’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 earnings per share. On average, equities research analysts expect that KBR will post 3.27 earnings per share for the current fiscal year.

KBR Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, December 13th. KBR’s dividend payout ratio (DPR) is presently 25.21%.

Hedge Funds Weigh In On KBR

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Empyrean Capital Partners LP purchased a new position in KBR during the 2nd quarter valued at $47,274,000. D. E. Shaw & Co. Inc. boosted its position in KBR by 29.4% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 2,286,779 shares of the construction company’s stock valued at $146,674,000 after buying an additional 520,207 shares during the period. Wolf Hill Capital Management LP increased its position in shares of KBR by 37.1% during the second quarter. Wolf Hill Capital Management LP now owns 1,877,497 shares of the construction company’s stock worth $120,423,000 after acquiring an additional 507,800 shares during the period. Jennison Associates LLC raised its stake in shares of KBR by 27.8% during the third quarter. Jennison Associates LLC now owns 1,621,740 shares of the construction company’s stock valued at $105,624,000 after acquiring an additional 353,209 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of KBR by 14.5% in the third quarter. Franklin Resources Inc. now owns 2,416,531 shares of the construction company’s stock valued at $167,876,000 after purchasing an additional 305,889 shares during the period. 97.02% of the stock is owned by hedge funds and other institutional investors.

About KBR

KBR, Inc provides scientific, technology, and engineering solutions to governments and commercial customers worldwide. It operates through Government Solutions and Sustainable Technology Solutions segments. The Government Solutions segment offers life-cycle support solutions to defense, intelligence, space, aviation, and other programs and missions for military and other government agencies in the United States, the United Kingdom, and Australia.